The Making of Index Numbers: A Study of Their Varieties, Tests, and Reliability

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Houghton Mifflin, 1922 - 526 sivua
 

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Sivu 462 - Both Principal and Interest to be paid in the then current Money of said STATE, in a greater or less SUM, according as Five Bushels of CORN, Sixty-eight Pounds and four-seventh...
Sivu 523 - Prices, Price Indexes, and Cost of Living In Australia. Commonwealth Bureau of Census and Statistics, Labour and Industrial Branch, Report No.
Sivu vii - ... work of calculation; and he shows how to test the results. Thus he provides us with methods of measuring such illusive things as fluctuations in real wages, in exchange rates, in volume of trade; in the cost of living, and In the purchasing power of the dollar. Finally, he points out that, once a good method of constructing index numbers has been generally accepted, the usefulness of the instrument will be vastly increased, and will then be extended to many other fields where precise measurement...
Sivu 1 - There is no branch of economic statistics that shows the advance of statistical method during the last 25 or 30 years more clearly than index numbers of prices. In 1896 Professor NG Pierson, the distinguished Dutch economist, expressed the opinion that "all attempts to calculate and represent average movements of prices, either by index numbers or otherwise, ought to be abandoned.
Sivu 10 - The fundamental purpose of an index number is that it shall fairly represent, so far as one single figure can, the general trend of the many diverging ratios from which it is calculated. It should be the "just compromise" among conflicting elements, the "fair average,
Sivu xii - Power of Money] to an inductive test by means of calculations from actual historical data. But before I had gone far in such testing of my original conclusions, I found, to my great surprise, that the results of actual calculation constantly suggested further deduction until, in the end, I had completely revised both my conclusions and my theoretical foundations. Not that I needed to discard as untrue many of the conclusions reached in the Purchasing Power of Money; for the only definite error which...
Sivu 64 - The test is that the formula for calculating an index number should be such that it will give the same ratio between one point of comparison and the other, no matter which of the two is taken as base.
Sivu 464 - Flux, Mitchell, Young and others. Irving Fisher, a leading authority on the subject of index numbers, says that "although we may push back the date of their invention a century and three quarters, their current use did not begin till 1869 at the earliest, and not in a general way till after 1900. In fact, it may be said that their use is only seriously beginning to.day.
Sivu 240 - An elaborate appendix discusses price indexes, their nature and limitations, the technique of computing them, and their application in ascertaining the purchasing power of money.
Sivu 3 - Fisher also took this point of view when describing his approach to index number theory: An index number of the prices of a number of commodities is an average of their price relatives. This definition has, for concreteness, been expressed in terms of prices. But in like manner, an index number can be calculated for wages. for quantities of goods imported or exported, and, in fact, for any subject matter involving divergent changes of a group of magnitudes. Again. this definition has been expressed...

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